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tv   MONEY With Melissa Francis  FOX Business  June 23, 2014 2:00pm-3:01pm EDT

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dot-com sites. the french fear adding new web addresses can be bought by any business can confuse customers especially those who want to buy wine. the french say they want to safeguard who can buy the new addresses. they seem most concerned or a lot of the conversation is coming from the wine industry. melissa francis is here. "money" starts now. melissa: all right, thanks so much. happy monday. high-stakes mission. secretary of state john kerry in baghdad looking for answers as the militant army advances and founder of gone wild. both lululemon and american apparel fending off controversial retail icons who are fighting to regain control. the washing and talk comes to wall street. a hollywood power player set to take "flash boys" to the big screen. can high frequency traders handle the truth? the world cup kick in the gut, they finally get me to
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watch and it ends in a tie? a tie? because even when they say it's not it is always about winning. melissa: sigh of relief from the housing market. "money" told you about the two-year recovery faltering in the housing market amid rising prices and low paying jobs. existing home expectations beat expectations seeing the highest monthly gain in three years. here is fox business's own charlie gasparino, jo ling kent and "wall street journal" spencer ante. what do you guys make of this? what do you think, charlie. >> economy is still pretty slow. i think we're bouncing off the bottom when you talk about housing making a come back. if you look at the numbers from, i'll tell you, we were first to talk about this, again, i think this is the biggest economic story out there, jobs on the low end, jobs on the high-end. those aei numbers and other
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numbers in the "new york times" say we're not producing jobs in the middle. this is not a good economy. melissa: why would existing home sales rise by 5%? >> i don't know. >> it is season. >> statistical anomaly. melissa: seasonally adjusted, seasonally adjusted! what do you think, spencer? >> i bought a house last year. i'm part of the story. you know the market started picking back up last summer and continued but you know, the prices have come up quite a bit since then. i think that is slowing things down. >> i bought a house in 2004. i can sell it for maybe the same price today. melissa: maybe. housing market rough irs chief john koskinen headed back to the hill today. lawmakers are expected to grill the commissioner about why the agency canceled its long-time relationship with the email storage contractor just after lois lerner's computer crashed. let me get there straight. this is like the dog ate my homework and i threw away any record of this in the house.
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by the way, all the xerox copies i made and backed up somewhere in storage and i can't pull that. >> this is what we're talking about this week. i never heard a private company say before we can't find email. turns out there was a contract with a e-mail backup provider which we don't know if it was in effect. there was contract at one point. melissa: they canceled it. >> they canceled it, it is incompetence. >> we need eliot spitzer, not for the black socks and hookers but we need eliot spitzer. i broke initial stories of his investigations into wall street. they were predicated on emails the wall street firms said they were missing, and when spitzer turned the screws, if you don't produce them i will put you in jail they turned up. melissa: we all know you can't get rid of email. it is there. some other person's server or in the cloud, right. >> there are ways to recover email in very secure ways. melissa: no matter what right. >> here is the thing, fbi if
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they walked in there could find this in a couple weeks. that did why you know there is a stonewall going on because the fbi, would be dispatched immediately and they would find it. >> a week from now we'll talk about the fbi subpoena probably. melissa: we'll see. we'll see. i don't know if you're hoping it will die in the meantime. >> hoping they're really going to do that? melissa: i don't know, we'll see. the boys are going hollywood. according to a new report, aaron sorkin is in early talks to adapt "flash boys" to the big screen. i can't imagine anything more boring. unless they make a lot up. >> if you read michael lewis's book, he made a lot up. this third-rate scandal, massive thing where markets are rigged -- melissa: there was no action. >> he never interviewed, you didn't see any dialogue from any exact high frequency traders. if this will be turned into a movie, mr. sorkin will have -- melissa: will have to be murder. like inject some sort of a
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murder scandal, something. >> anybody who is italian, i guaranty, i shouldn't say this -- >> greatest magic trick ever. you saw the social network, right? there wasn't much drama there? they turned it into a courtroom drama. aaron sorkin, if anyone can figure out how to make this relatively boring story into something dramatic -- have you watched a newsroom. >> west wing, that is not exciting in the white house. >> no deaths in "moneyball". he made that interesting. melissa: there is players, only one i can think of barbarians at the gate. they made a good deal. >> that "wall street" sucked. melissa: i think it is hopeless you. >> think baseball is interesting, charlie? melissa: oops, she did it again. a week after her dead broke comments landed with a thud, hillary clinton said she is not truly well-off. she said, talking to reporter,
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they don't see me as part of the problem they told the paper. we pay ordinary income tax. unlike a lot of people who are truly well off, not to names, we've done it through hard work. she makes $200,000 for a 45-minute speech. that is hard work. that is hard work. >> shows you the complete hypocrisy of the left and media in terms of who they pick as the sort of good guys and bad guys in the 1%. mitt romney ran a very good firm, bain capital. it created a lot of jobs. did it have problems? yes. the guy was vilified by the liberal media throughout the entire 2012 campaign. hillary clinton created no jobs. she is blood sucker off these wall street firms. if you are defining crony capitalism and you want your sort of defining person for crony capitalism, the poster child, it is her and her husband. that is how they make their money. melissa: since 2001 she and her husband made $100 million off speaking fees. not there is anything wrong with that. great if you can do it, rock on.
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don't say i'm one of those people truly well off. you have $100 million from speaking alone. what is real well off? >> i have no idea. remind me of the mitt romney thing which killed his campaign, 47% of the elector to rat doesn't matter. has that kind of populist, potential. >> i think this is, i think bigger story here is that she doesn't know how to handle this. i don't think, listen, i don't think she will win if she runs. i think there is good chance she will not run. these statements show incredible blind spot on her part. melissa: last night in a far away jungle, in a stadium not quite finished two teams tied. i mean, this is the world cup? this, i finally get you can is in. my kids are in front of the screen. my husband is yelling. everyone is excited. boy, i given this whole world cup thing too tough of a time. i need to get into it and i go and watch and they tie. no one wins, no one loses. >> zero zero. they scored four goals collectively. it was a good game.
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it was a good game. melissa: like everyone gets a medal. >> that is not technically true. because they tied they have much less chance of actually advancing -- melissa: introducing math into it. just when we thought the sport -- >> scored that goal up and down. >> this is politically correct. the media goes gushes over these games because it is international. than thiss 30 times more garbage. we also talk about how -- >> no bias here or anything. >> what does that have to do with it. this is a world -- >> i fell asleep twice watching this. >> world's most popular sport. >> it is not american. >> too provincial, charlie. open your eyes to the world. >> more americans are starting to watch. undeny true. >> most watched soccer game on espn history. 11 million people watched the game. >> almost as many as sunday night football game. >> most watched special --
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>> oh, man. melissa: this is called "money." every boar, everything, everywhere were tuning in. i have to admit and then they tied. >> it's a bs sport. melissa: so he has a face for radio but we're putting him on tv anyway. peanut, the world's ugliest dog joins me on set. apparently, yes, i know, he, sorry he is here. sex doesn't always sell. hold on to knee on spandex. we'll tell you what happens when doves cry. ♪. when folks think about what they get from alaska, they think salmon and energy.
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but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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melissa: two high-profile retailers getting their spandex all in ahn about much thanks to a pair of founders gone wild. we'll get to the that in just a second. we'll start with lululemon's chip wilson reportedly gearing up for a proxy fight against the company he founded. here now, "the wall street journal"'s dana matioli and charlie gasparino and marketing maven bruce
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turkel. i will start with you because you wrote a big article. chip wilson trying to regain control with goldman sachs. he has 28% of the company. he is still saying dumb stuff like not everybody belongs in the pants that i make. what can he do. >> could sell the 28% stake. don't know that he wants to do that since the company lost value. he could team up with a private equity firm or launch a proxy fight. he is a bit of a loose cannon. nobody knows what direction he will take. melissa: what is the betting on the street? you talked to a lot of people for the article. what do you think? >> he publicly voted against two directors on the board last month. he has been very vocal there. sound like he could get private equity. >> betting clearly he isn't looking to take it private because the stock would be higher. melissa: it has been really beaten down. they have had a really hard
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time. they talk about having the board and ceo out there fighting in public is incredibly bad for the brand. go ahead, charlie. >> some ways we should have started with the bar really low with charney. what he did was so outrage just. melissa: we'll get to that in a second. >> what is the worst thing this guy said? if we're holding him accountable. melissa: the pants were see-through because they were rubbing together. instead of blame being product, bruce, i will get your take, you know what, not everybody belongs in these pants. >> i is right. melissa: is that good or bad marketing, bruce. >> this is terrible. if he was selling something else, fine. we heard people say stupid things. most consumers don't care about the ceo. when you sell products to women and ceo is clearly misogynistic with the comments. >> come on. >> that is just stupid. >> miss songy nist? i can think of 40,000 more misogynists. melissa: they're not trying to
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sell women's pants. >> maybe you know the guy. the journal reporter might know him. i don't know know him. you don't know him. he might be a complete deviant pervert. however, that is, that statement itself -- >> not only that. >> there are certain men who should not wear italian-made suits. they're too thin and not cut right. that make me antimale? melissa: i don't know. not to be outdone, we have to get to even more colorfulp american apparel founder is vowing to sue the company after he was fired as ceo even details emerged sexual harrassment played a part. it wasn't just sexual harrassment. he has been in trouble with the company. breaching fiduciary duty. violating company policy misusing corporate assets. the only thing he didn't say he kicked the dog and brought peanuts into nut-free work environment. there are pictures all over the
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internet naked in the office. does this guy have a shot in hell of staying at this company? what do you think, dana? i let you go first. >> this is long-running problem. there were allegations of sexual harrassment. he was using company fund to fly his parents all over the company. he kept a apartment in new york not using for business. a breach of first quarterry duty. a problem of bored for a long time. melissa: at the same time they offered him $4 million to stay in creative role. he refused that. he got fired afterwards. bruce, is it possible he brings something to the table? if they're offering that money, could he be, i'm trying to advocate for his case, could he be a creative genius who is also a lunatic? >> of course he could. look at business he built. they sell it. shirts, jeans and tights. not like anyone said there was a need in the marketplace. he figured out a way to reconfigure the brand offering and value proposition and to sell them. they need his ideas. what they don't need his
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craziness. i don't really mind the fact he flew his parents around. he is a good son. melissa: naked in the office. and photos in front of employees and he is having -- >> how much has he settled? have they paid huge settlements? melissa: their insurance costs have gone through the roof. they're trying to manage all of -- >> there is a point when you pay huge setments, you know -- is it's over. that's right. thanks to all three of you. from the u.s. to every corner of the globe money is flying around the world starting in italy where pope francis is getting tough with mobsters. the popular pontiff said members of the mafia were following a an evil path and declared them excommunicated from the church. it is strongest attack on organized by a pope in more than 20 years. over to china where a new app is helping drivers text one another by scrapping license plate. that means anyone that is driving can contact you if they happen to snap a clear picture. gm helped develop the tool.
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i would be in really big trouble. they have explain how folks could use it to start chatting with cute drivers passing by on the road. that is not creepy. land negotiate u.k. where prince william has been celebrating his 32nd birthday with a brand new helicopter from the queen! the royal granny gifted him a $13 million luxury chopper, complete with plush leather seats and travel over 500 miles and stay up for nearly five hours at a time. thanks, grandma. where's mine? john kerry said it is a moment of decision for iraq. the secretary of state arriving in baghdad as rebels continue to gain ground in the north but is diplomacy in the region the right call? kt mcfarland weighs in. do you ever have too much money? ♪
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melissa: the dow is taking a little detour on the way to 127,000 although we're cutting losses -- 17,000. shares of coach taking another big hit, nicole. >> that's right, melissa. we're taking a look at coach. it is taking a turn to the downside, down about 2% right now but hitting a new multiyear low. back to the 2010 levels for coach. wedbush this morning downgrading the stock to an underperform from a neutral, cutting the price target to 26 from 40 bucks. concerns about near-term earnings. concerns about the fact that they're working on renovations and redoing some of the stores. in the meantime how are they doing that when they're worried about traffic in the stores? so, right now, coach is to the downside, 2% new low back to you. melissa: nicole, thank you so much. secretary of state john kerry meeting with the iraqi prime minister today. kerry involving himself as the country plans to create a new
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government. this comes as isis militants advance towards the capitol city this weekend. joining me to discuss all this, fox news national security analyst, kt mcfarland. what do you make of this story. >> this is a 3-thousand year war. they have been fighting each other since biblical times. even before the birth of islam. persians versus babylon and shia versus sunnis. it will go region to region and across borders and will go 30 years. what is the united states interest of this? we don't want want to be in midf a war where two enemies are fighting each other. melissa: you doesn't think we should get involved? >> we have two wars if you count the surge. we won it, we lost it. we'll put our thumb on the side of the scale, guess whose side are we supposed to come on? iran's sock puppet government in iraq. we need to take a step back to say what is our strategic interests in the region.
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oil, terrorists israel. we want oil, not the terrorists and want to help israel. there has to be some way of achieving it. we'll argument that we have to be there where terrorists use it as a base. there are 30 countries where al qaeda is at. i don't think the united states wants to occupy. melissa: argument we've already been there, spent some lives. abandon it now makes seem like we did in the past a waste of lives and money. >> here's the thing if there was chance of success, sure. there isn't a chance of success. what are we going going to do? >> what is success in this situation? >> what we want is democracy in the middle east. where shiites and sunnis get together and everybody is happy and vote for democracy. we handed this country democracy on a silver platter. they didn't want it or didn't want it or able to achieve with it or succeed with it. they would prefer to have score settling for the last time. we need to understand they will be at war. we don't want to be in the middle of that war but that is not excuse for doing nothing. melissa: are we worse off for
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not being involved? that is not the question. not that we can solve their questions. we don't want one huge enemy to consolidate so much power then it's a bigger problem down the road. that is one argument. the other is we have oil interests in the region. to abandon it and abandon what few friends we have in the region sets us back. >> the first part, war at each other. my old boss, henry kissinger said when they were at war with each other in the 1980s, he said too bad both sides can't lose. better they fight each other as long as we get our national security interests and vital interests out of the region. oil, we have to understand they will start blowing up each other's oil fields. we have to get our oil someplace else. why not the united states? why not north america? why not keystone pipeline? why not let our own energy companies develop american oil and natural gas? we could become in the middle east in the future. then the other argument of terrorists using that as base, we tried that. there are two-ways to kill a
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snake. you can starve a snake and try to cut the head off. we tried to cut the head off for last dozen years and we haven't done it. let's starve the snake. our homeland security in the united states, seal the border. melissa: interesting discussion that will not to away unfortunately not anytime too soon. thanks for coming on. we appreciate it. rainy day funds are running dry. americans struggling to prepare for the worst. a doggone winner. peanut the world's ugliest dog is here. see how he is handling all the fame! "piles of money" coming right up. ♪. my dad has aor afib.brillation, he has the most common kind...
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[ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪ ♪ ♪ melissa: whether it's on wall street or main street, here's who's making money today, anyone with a piece of yelp. shares moving higher today after it added a new service which allows users to send messages
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directly to the company companies they're writing reviews about. copounder and ceo -- cofounder and ceo starting out the week on a good note, six million shares meaning he made $90 million today! that is something to write home about. and raking in the money from his new gig, ex-nsa chief keith alexander, he is charging up to a million bucks a month to tell wall street all about u.s. intelligence methods. bank bosses want to know how they can best recollect their sensitive information. -- protect be their sensitive information. he's teaching them. smart move. giving themselves -- [inaudible] no one was looking. soccer bosses, head honchos secretly doubled their own salaries to $200,000. reports say some members took bribes from the qataris to secure the hosting rights for the 2022 world cup.
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oh, dear. all right, the fed seems to be looking the other way on inflation. janet yellen called figures noisy, but food prices are on the rise, meat, poultry, fish seeing an average increase of 8% last year, coffee, cocoa, milk seeing prices rise as well as these costs climb, will the economy prove to be weaker than the fed thinks it is? joining me now, brian wesbury of first trust advisers. brian, you know, i don't know if you had a chance, i don't know if you do your own grocery shopping, i'm not going to put you on the spot, but alas, when i was trying to buy meat this weekend, i was shocked by how high the prices have gone. i think people all across america, and i know it's not the fault of the fed that this has happened because it's been, you know, drought, pig virus, all kinds of things, but prices are up. inflation is here, right? >> you don't see this kind of broad increase in commodity rices without fed helping -- prices without the fed helping, you know? every year there's something whether it's the cherry crop or
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the cranberry crop or the cattle harvest or cattle slaughter or the wheat harvest, somewhere something is always happening with supply and demand. but when you see these kinds of broad increases across broad categories, that usually has to do with money, and that's the fed. and they've been printing too much of it. many. melissa: and it's not just food. it's astounding, bacon, 18%, ground beef, 16%, but you look at something like coffee, up 50% year to date. prices are going up. it's not just the grocery store. if you go to a restaurant or you go to starbucks, it's up there. and it just goes all the way through the food chain. is there evidence, i mean, what's the next step that would show us that inflation is really taking off? as the dominoes fall, in your mind what's next? >> right. you know, usually commodities move first. melissa: right. >> and then not always does the consumer price index move second. you know, broad, broad inflation, when's the last time
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you bought a rand mcnally road atlas, right? you get it for free on your phone. we know that technology prices keep falling, they keep adding new items that you don't have to buy a camera anymore, it's on your phone. so the bottom line is that net-net our living standards are going up, and inflation -- >> melissa: then maybe it doesn't matter. does it not matter? >> well, it does, and it will come. you know, what we've seen is with the federal reserve, the fed has injected all this money. they did quantitative easing, they bought all these bonds. lots and lots of people said that was going to lead to hyperinflation. melissa: right. >> we didn't believe that because the banks weren't lending it out. they were kind of stacking it up, and they were holding it as excess reserves. well, now the fed has decided that they're not going to shrink their balance sheet, they're not going to sell those bonds, and my fear is that with all that
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kind of, i call it gasoline, it's gasoline in containers near your water heater, and this could ignite pretty quickly. and food, it's been the -- i don't mean to mix metaphors here, but it's been the canary in the coal mine before, right? melissa: yeah. >> food prices start to go up, and then we see overall inflation go up. melissa: okay. so at the same time it seems like many americans are skating on thin ice, new data from bank rate reveals that one in four people out there have zero money saved up for emergencies. on the other end of the spectrum, just 25% of folks have enough stashed away to cover six months of expenses meaning the the majority of people in the country have little or no funds to turn to if things go wrong. does this surprise you? i mean, what -- does this create a danger? is this just the way we live in america now? >> you know, i guess when you hear these kinds of numbers, it always does surprise me. and that is that i feel like people should -- i'm a boy scout, you know?
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it's be prepared is the motto. and it seems like lots of people aren't prepared. but when you think about america and the way we've dealt with economic problems over the decades, we always -- the government comes to the rescue. and we also have social security, medicare, welfare, unemployment benefits, all of these things. melissa: right. >> so what people, they end up doing is almost the rational thing. why should i save? why not just buy more stuff? because if i get in trouble or when i retire, the government will pay for it. melissa: right, right. so true. brian wesbury, always appreciate it. energy stocks hitting new record highs as oil surges above $107 a barrel before losing steam. let's go to alan nussman at the cme. talk about this trade today, what's driving it? >> well, you know, obviously it's the global fears of anything happening that could ignite the energy issue. for me that's positive, it shows an ability to pay. we've been above $100 a barrel.
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regardless of what happens politically. but let's put in perspective, last week even though we had a lot of headlines, crude oil was only up 35 cents on the week. technically speaking, if it gets above $110, we could see a quick move if something major does happen. melissa: brian wesbury, we were just talking about food inflation and commodity inflation, that this is the canary in the coal mine and generally this is what you see first. do you feel like you've seen a trend of inflation in commodities over, say, the past year, two years? or no? >> no. i would use the word reinflation. it's now corporations have pricing power, they're able to raise prices a little bit, and if we go to gasoline, it's such a red button issue, ooh but even if it goes up one dollar, that's $20 a week, that's $80 a month, it's not catastrophic -- melissa: it adds up. >> it's a reminder every single day. but i think we can move to 110, and then we're going to start
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seeing some real action from a technical standpoint. melissa: alan, thanks so much. so an ugly mutt that is sitting pretty today. peanut captures the blue ribbon and lots of hearts as the world's ugliest dog, and wait until you hear what his owner is doing with the prize money. you're not ugly, you are beautiful! you're beautiful! at the end of the day, it is all about dogs. what do you think? tweet me, what do you think? ♪ ♪
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♪ ♪ melissa: i'm melissa francis with your fox business brief. coal stocks up big after a setback from the e be -- epa. supreme court ruling it exceeded its powers. the agency, however, can still move forward with its proposal to try and cut power plant emissions by 30% in the next 15 years. and bnp paribas is close to a deal with u.s. prosecutors after it allegedly violated u.s. sanctions by hiding billions of dollars in financial transactions. sources say bnp will pay up to $9 billion and could agree to a temporary ban on u.s. dollar transactions. and target is now giving free shipping to most online orders over $50. that now matches the free
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shipping at wal-mart. it is still higher than the $35 minimum for customers at amazon. that is the latest from the fox business network, giving you the power to prosper.
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. ♪ ♪ melissa: more proof that every dog has his day. some may think 2-year-old peanut has a face that only a mother could love, but his big win as the world's ugliest dog is
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definitely a thing of beauty. the newly-crowned champ joins us along with owner holly chandler. congrats are in order. you beat a dog that's half high year that. [laughter] do you think he had a good shot to win? >> yeah, i did. he's, he's a very interesting personality, and he deserved it, so i was hoping for the best. melissa: we say it in all seriousness, peanut was badly burned in a fire as a puppy, part of this reason why you went into this contest, because you wanted to raise awareness about abused dogs? is. >> right, exactly. and that's our biggest point, and we're really hoping to be able to continue that story and share, and share what he went through. melissa: does it hurt your feelings when people voted your dog the ugliest dog? it is an insult. >> no, absolutely not. i think the term ugly is more of a sarcastic thing. everybody knows that all the dog owners absolutely love our animals. most of them are there for puppy mill awareness or abuse or just
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all kinds of in-breeding, spay/neuter. we're there for a reason. we're not there to make fun of our dogs. we think our dogs are do you dou feel. melissa: what do people say to you? >> they, of course, think he's growling, and so because of that they're a little stand offish until they see that they can pet him, so i think it's more of the fear factor than anything for him. [laughter] melissa: poor thing, and he's sweet as can be. he's been in our office for a few hours, and i have to say what a sweet dog. you are donating the prize money to help pay other animals' vet bills? is that right? >> yes, that's exactly right. we're hoping we can help people that are dogs that are rescues or what have you, if they have medical bills that need help, we hope that we can help them out. melissa: what is next for peanut? it seems like this show is called "money," so we were immediately thinking ka-ching when you guys won because that is a face that no marketer or
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custer could ever -- customer could ever forget. what is the best product you could go out there and endorse? his teeth are pearly white, and you see them all the time. [laughter] a chew toy maybe? what do you think would be perfect? >> well, you know, i really haven't thought that far into it. our biggest mission was just to spread awareness and hope to help stop animal cruelty. and i think that we've really gotten our story out there, and so maybe we can start thinking about something else, but that just -- melissa: and won a lot of hearts. well, the endorsements aren't rolling in yet, but they're on the way, i have no doubt. [laughter] >> thank you. melissa: heading into our last hour of trading now, let's check in with liz claman and see what she has coming up. how can you follow that? liz: we can go heavy on the markets. [laughter] how about that, melissa? listen, we found who has a very interesting concept as we look at pulling back slightly from record highs. nonetheless, we are looking good for equities. so if the best time to invest
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was about 12 months ago, did you miss it? well, the second best time our guests are saying to invest is right now. coming up, we're going to look at the markets, look at some sectors and names with david khan and brian perry, billions of assets under management. you want to listen to them if you've been sitting on the sidelines or if you've actually been active, they've got some picks they really like. plus we did get the existing home sales numbers out, they look very good, but there is one very dark cloud over the housing market that is preventing all of us from seeing a full-fledged recovery. what is it? top experts coming up at the top of the hour including zillow's chief economist. stay tuned. melissa: liz,ing thanks so much. when it comes to employees, the crabbier the better. we're going to explain why grumpy was the most productive dwarf in the coal mines. did you know that? smart "money" on the way. ♪ ♪
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♪ ♪ melissa: so fewer than half of american workers were satisfied with their jobs last year, that is according to a survey by the conference board, and that is up from the year before. joining me now to discuss it is tom gimble of lasalle networks. fewer than half of americans? i'm very satisfied with my job, by the way, for the record. fewer than half, does that surprise you, tom? >> you know what? the surveys are surveys, right? most people are going to say they wish they had more money or they wish their commute was closer to home. however, there's a large percentage of people that really aren't happy in what they do and that's why, quite frankly, recruiting firms like mine stay in business. melissa: so what do you say to them? seems like you would tell them
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to change jobs, but that's not always the best advice. i've met people who switched jobs, and they're equally unhappy no matter which news organization they're working at. so -- >> i really believe a lot of times it's out the frying pan and into the fire. we'll tell people stay where you at. we go after more people who aren't looking than people who are. the real questions are why are you looking, and people usually join companies, but they quit managers, and it's that manager/employee conflict that's the problem. melissa: that is really true. they quit managers. being a negative nancy might be good for office productivity, it turns out. researchers find that grumpy people may be better at their jobs since they spend -- >> can i think we need to audit that survey. i'm not so sure that i'm buying that one. i mean, i think there is something to be said for people that put their nose to the grindstone, they don't look up, and they just grind it out. but at the same time, happier people tend to take on her
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tasks, they want to do extra things, they'll come this and cross-train in other areas. so for getting one task done somebody who's not a social sally may be a good thing, but for the limb growth of the company -- long-term growth of the company, i just don't believe that's the way to go. melissa: there was this article in "forbes" that suggested jumps ship to make more money works, companies earn about 50% less over their lifetime. does that surprise you, that being disloyal, that getting out of your job over and over again you end up making more money? >> well, i think it's also who they're being compared to. you may eve every two years, but when companies do layoffs, you may also be the first one to get cut. so i'm selling that one short. melissa: yeah, you don't buy any of these. tom gimble, we always love your insight. thanks so much for coming on.
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now for something we just had to show you. capturing a very expensive inferno. this $24 million yacht went up in flames after a suspected welding accident. the owner was understandably close to tears. close to tears? he told reporters of the pain of losing, quote, his wonderful, beautiful toy which he said was probably one of the the most beautiful boats to ever have been built. joe is back with me now. that is, i mean the pictures alone, look at that inferno. what do you think? >> it's movie quality. it's really amazing to see that drones are able to capture this with such high quality. it is really sad to see a big investment like that go, but it is, of course, a testament to how much money individual has as well. melissa: right. they always say that if you're one of, if you're a big boat person, you pretty much incinerate cash because they cost so much money. i guess this brings new meaning to that phrase. [laughter] but it is, i mean, if you try and find something positive out of so much waste and fire, it is
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kind of cool that we now have drones flying around getting pictures of these things and not cool for the guy whose boat it is. then again, he's not eliciting a lot of sympathy because he has a zillion dollar yacht. >> right, exactly. takeaway for me is really maybe these kinds of devices can be used down the line. we see law enforcement using them, the faa trying to struggle to figure out the new rules, so maybe in the future we'll see drones that are helpful and notifying us a house is on fire. melissa: all right. coming up, the new app that proves yo money, yo problem, because at the end of the day, it's yo about "money." ♪ ♪ weekdays are for rising to the challenge.
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but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt
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where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. ♪ ♪ melissa: you're nobody til somebody hacks you. the latest communication craze,
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yo, taking advantage of being hacked late last week by hiring one of the students that did the dirty work. on top of the hack attack, it now has more than a million users: so does this mean that it's officially made it? jo ling kent and spencer are back with me now. so they hired within of the georgia tech students that hacked in. boy, doesn't that discourage bad behavior going forward. >> but it's part of this silicon valley culture of white hat hackers, maybe you can convert them from black hat to white hat. whether or not this actually happens, we shall see, because this app is so, so simple, and it's kind of annoying. i couldn't really -- melissa: you're venturing to call it annoying, because i was calling it annoying last week, but, i mean, you never know -- >> it's cool, or it can be. melissa: mark andreessen waxing pettic about it. >> almost every week there's ab
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app, people talk about it, down load and then don't use it again. this one is actually, i think, even more silly than secret because you can't even, like, communicate. melissa: no. you just yo someone. >> those actually have done relatively well for disturb. >> at least you can do something with it. melissa: although in case you need proof that it's here to stay, just listen to wall street. morgan stanley chief economist writes about it in their sunday note. this was unbelievable. basically this guy's match.com profile. i'm a minimalist. i like to sit in my scarcely-furnished studies while i write this comment. i hate christmas decorations. when on vacation i like to sit on the shore and stare at the sea this summer. a simple yo can say and mean more the your contacts than all the battle. can a -- i mean, this is hover began stanley's chief economist -- morgan stanley's chief economist going on and on about the beauty and simplicity of yo.
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>> what i find interesting here in addition to that being sort of -- melissa: odd. >> hilarious and odd is that simplicity is very much a big theme among apps right now. the reason why instagram succeeded, because it's a stream of photos, you can post one photo at a time. people like to live in whatever that little box of experience is, and yo even though it's not a photo app, is similar -- melissa: but what could possibly be the hundred behind yo? >> there is none. how -- melissa: how do they make hundred? >> this is something like they made over the weekend. they even said it. melissa: right. >> this is like the pet rock of apps, okay? six months from now we're not even going to be talking about this. i predict. i'm going to out on a limb -- melissa: chief economist writing his sunday night note about this. i mean -- >> people get excited. melissa: jo may have it. people get excited. >> with for the moment. melissa: tomorrow we are going to be serving up a heaping helping of choco chicken.
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adam fleischmann, he's going to join us with his latest creation, chocolate fried chicken. i don't know about that. that's all for now. i hope you're making "money" today. "countdown" starts right now. ♪ ♪ liz: market tug-of-war. investors caught wean a new burst of merger mania and concerns that chaos in iraq could worsen dramatically. will the dow and the s&p rise for a seventh straight session? and if you missed this rally, should you now wait for a pull pac? we have got the answers. some call them the granddadty of all housing numbers. existing home sales rising way more than than expected in may. does this put an end to the housing recovery debate, or is there one specific and very dark cloud holding back sunshine? one of the top voices in housing, professor of real estate susan wachter, joining us live. and feeling like you could use a jolt of happiness?

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